Can AI check a financial model?

Partly. Software, with or without AI, is good at the mechanical errors: inconsistent formulas, typed numbers, broken links, totals that skip rows and statements that do not tie. It is weak at judgement - whether a growth rate is realistic or a cost belongs in the model at all. The safe setup is a machine check first, then a person reads every finding.

Checked 3 November 2026 · sources below

What a machine check catches well

• One cell in a row that differs from the rest.
• Typed numbers where a formula should be.
• Sums that miss the first or last row.
• Balance sheets that do not balance and cash that does not tie.
• Error values, circular references and outside links.

What it misses

• Assumptions that are possible but unlikely (30% growth for ten years).
• A cost left out of the model entirely.
• Business rules only the owner knows - a contract that ends in year 3.
• Errors that are consistent everywhere: if every cell is wrong in the same way, nothing stands out.

What our own test showed

We tested our checker on more than 140 made-up (synthetic) models with errors planted in them. It found about 93% of the planted errors and raised a false alarm on under 10% of the clean models. Those were test files, not real client models, so real results can differ - which is why a person reviews each report before it goes out.

Is it safe to upload a model?

Ask any service three things: who sees the file, which AI provider receives it, and when it is deleted. Remove personal or client names first if you can. See is it safe to upload documents to AI?

Questions

Will an AI check replace a model auditor?

No. A signed model audit is a professional opinion. A machine check is a fast first pass that finds the common errors.

Can ChatGPT read my Excel file?

General chat tools can read some spreadsheet data, but they often miss formulas, hidden sheets and links. Purpose-built checks read the formulas themselves.

What should a good report include?

The sheet and cell, why the issue matters, and the fix - with the serious issues first.

Sources

• Microsoft Support: Detect errors in formulas
• European Spreadsheet Risks Interest Group (EuSpRIG) - research and error stories